Woolworths: R10bn rights offer terms finalised

WOOLWORTHS had finalised the terms of a rights offer to raise nearly R10 billion through the issue of 167.8 million new ordinary shares, the retailer said yesterday. It said a subscription price of R59.50 a rights offer share would apply at a ratio of 22 rights offer shares for every 100 shares held on September 12. The price amounts to a 20 percent discount on the theoretical ex-dividend price of R74.38 a share at Monday’s closing price. Woolworths would announce the results on September 29. The shares closed 2.05 percent up at R80.78 yesterday. – Reuters